Brief

Burberry announced that Chairman Gerry Murphy will retire in November 2026, with William Jackson designated as his successor after Murphy's nine-year tenure. Separately, the improved Zhuque-2 rocket successfully launched, marking a milestone for China's commercial liquid oxygen-methane rockets and entering a phase of scaled application. Additionally, Lin Junyang has founded a new company valued at approximately $2 billion, with other news including Jia Yueting's pivot to robotics and concerns over undeclared ingredients in popular candies. AI

The phrase "the end of computing power is electricity" has resonated in recent trading days, with green power concept stocks like Datang Power and Shaoneng Shares seeing significant gains. This surge is attributed to a confluence of factors including top-level policy design for computing power and electricity coordination, a high volume of中标 (winning bids) from the State Grid, and expectations of extreme heat. The article also notes a broader trend of rising fund net values, with over a hundred actively managed funds now exceeding 10 yuan per unit. AI

Spot silver prices have surpassed $87 per ounce, marking a 0.60% increase for the day. Concurrently, Chinese tech ETFs listed in the US are experiencing renewed capital inflows, reversing earlier outflows. Foreign institutional investors are actively researching A-share technology sectors, particularly semiconductors and high-end components, signaling growing interest in Chinese tech stocks due to increased domestic AI investment and accelerating terminal intelligence. AI

BlackRock CEO Larry Fink stated that the current AI boom is not a bubble, but rather a reflection of a severe global shortage in computing power. He predicts that access to computing resources will become a new, tradable asset class, with financial markets developing instruments tied to compute futures. Fink emphasized that the demand for computational power is so high that it could fundamentally reshape financial markets. AI

HSBC predicts UK inflation will exceed 4% this year due to the ongoing conflict in Iran, with economic growth expected to be slower than previously anticipated. Separately, South Korea's seasonally adjusted unemployment rate rose to 2.8% in April. In tech news, Kuaishou plans to spin off its AI subsidiary Keling AI and is seeking $2 billion in funding. AI

Snap's first-quarter financial results showed improved operating discipline with a 12% revenue increase and significant growth in adjusted EBITDA. Despite these gains, the company is facing pressure from activist investor Irenic Capital regarding its substantial investment in augmented reality glasses, known as Specs. Snap reaffirmed its commitment to developing this speculative hardware-software interface, highlighting its potential to create a defensible platform beyond its core advertising business. AI

Major Chinese tech companies are pushing their programmers to focus on AI development, with some reportedly exhausting their entire annual budgets within four months, leaving CTOs surprised. This rapid AI investment is occurring amidst broader market trends, including a rebound in bank wealth management products and specific company news like Kuaishou's potential AI spin-off. AI

Kuaishou plans to spin off its AI subsidiary Keling, aiming to raise $2 billion. Meanwhile, a major tech company's CTO was surprised as programmers rapidly consumed their entire annual AI budget within four months, highlighting intense internal competition for AI development resources. The report also notes that the Indian government has increased basic customs duties on gold and silver imports from 5% to 10%. AI

Wells Fargo analysts have characterized the current AI investment landscape as a "euphoric" bubble, advising investors to capitalize on the momentum rather than resist it. They point to the massive capital expenditures by hyperscale companies, which are projected to significantly increase in 2026, as a key driver of this trend. Despite comparisons to historical bubbles like the railway mania and the dot-com era, Wells Fargo believes the strong earnings growth associated with AI currently limits downside risk. AI

Samsung Electronics expressed regret over the breakdown of bonus payment negotiations with its labor union, with the South Korean Finance Minister also voicing disappointment and urging the avoidance of a strike. Meanwhile, a separate report from Huatai Securities highlights a positive outlook for the machine tool and industrial control sectors, driven by increased demand from AI-related industries such as optical modules and semiconductors, leading to price and volume increases. AI

Casey Hudson, director of the upcoming Star Wars: Fate of the Old Republic, has expressed reservations about generative AI, calling it "creatively soulless." This comes as the game has secured significant investment, though the exact amount is not specified. Meanwhile, a WIRED panel will host a livestream AMA on May 27 to discuss AI's impact on jobs. AI

Two Chinese securities firms, CITIC Securities and CITIC Securities, have released research reports highlighting significant growth potential in the metals and new materials sectors. Both reports point to a strong performance in strategic metals and advanced materials, driven by technological advancements and supply-demand dynamics. CITIC Securities specifically notes that sectors like tungsten, lithium, and rare earth magnetic materials are leading the charge, while CITIC Securities emphasizes the role of new productivity elements such as rhenium, uranium, tin, and nickel, alongside opportunities in AI-related components. AI

Former ByteDance executive Lin Junyang has launched a new AI venture, reportedly valued at $2 billion. This news was part of a broader digest of tech and business updates. Other items in the digest included financial market performance, a banking executive's expansion plans, and a celebrity's pivot to robotics. AI

Legendary investor Paul Tudor Jones believes the AI-driven bull market will continue for another one to two years, despite recent market highs. He sees parallels between the current market conditions and the dot-com bubble of 1999-2000, warning of potential significant corrections if the momentum persists. While acknowledging the surge in corporate earnings attributed to AI, Jones and other investors like Michael Burry are concerned that these earnings may not be sustainable and that the market is overvalued, as indicated by Robert Shiller's CAPE ratio reaching a dangerous milestone. AI

Multiple reports from 36Kr detail daily increases in China's stock market financing balance, with total balances exceeding 2.8 trillion yuan in early May. Analyst reports from firms like CICC, Guojin Securities, and CITIC Securities highlight market optimism, with CICC predicting a continued upward trend driven by global order restructuring and industrial innovation. Guojin Securities points to a new policy encouraging AI and energy synergy, aiming for significant improvements by 2027 and global leadership by 2030. CITIC Securities also sees strong potential in the consumer healthcare sector due to supportive policies and current low valuations. AI

The cost of AI coding tools like Copilot and Claude is increasing, prompting questions about whether it's more economical to hire human programmers. This trend is occurring alongside broader economic shifts, such as a significant reduction in credit card offerings in China and a Brazilian retailer seeking bankruptcy protection. Additionally, there are discussions around data center projects and user privacy concerns related to AI and tech giants. AI